The bill amends Section 13-1-154.1 NMSA 1978 to increase the financial limits on contracts for procurement of architectural and engineering services and construction that state agencies and local public bodies can enter into. Specifically, the total amount for multiple contracts and all renewals for a single contractor is raised to seven million five hundred thousand dollars ($7,500,000) over four years, while the limit for a single contract, including renewals, is set at two million dollars ($2,000,000). Additionally, the total amount for multiple indefinite quantity construction contracts is increased to thirty million dollars ($30,000,000) over a ten-year period, with individual purchase orders under these contracts capped at seven million dollars ($7,000,000).

Furthermore, the bill establishes reporting requirements for state agencies and local public bodies, mandating them to report annually to the legislative finance committee and quarterly to the purchasing division of the general services department regarding the aggregate amount of contracts for each contractor. This aims to enhance transparency and oversight in the procurement process. The bill also maintains existing limitations from Sections 13-1-150 through 13-1-154 NMSA 1978, ensuring that the new provisions align with current procurement regulations.

Statutes affected:
introduced version: 13-1-154.1
Final Version: 13-1-154.1